Sampath Bank wins Euromoney and Asiamoney  Awards for Corporate Social Responsibility

0
34

Sampath Bank was recently recognised as Sri Lanka’s best Bank for social responsibility by Asiamoney and Market Leader CSR from Euromoney magazines. Both lauded Sampath Bank’s innovative approach and the impact of its successful social outreach programs, and wrote approvingly of how the Bank adapted to difficult circumstances. Euromoney Market Leaders makes an independent appraisal of the leading financial service providers across key banking categories in each market.

The result of a rigorous assessment process, these rankings are part of Euromoney magazine’s awards programmes that recognise financial institutions for their accomplishments and capabilities within a 12-month period against the backdrop of global events. In the confined world of international banking and finance, Euromoney and Asiamoney awards are the coin of the realm, a spokesman said.

Both magazines noted in separate statements that as working capital dwindled during the coronavirus pandemic, Sampath supersized its ‘diriya’ loan scheme for small and medium-sized enterprises, prioritizing green lending. It also scaled up sustainable lending to help Sri Lanka reach one of its environmental objectives: to ensure that by 2030, 70% of the country’s energy will come from renewable sources. Sampath Bank helped support Sri Lanka’s import/export industry, prioritizing prudent management of its foreign currency position.

The Bank acted pre-emptively to procure more foreign currency early in the year, and ensured uninterrupted inflows of essential foods and pharmaceuticals. Facing unprecedented, the Bank responded with out-of-the-box thinking and novel solutions. Heeding the Central Bank’s directive to reschedule existing non-performing loans of pandemic-affected businesses, Sampath Bank negotiated mutually acceptable repayment plans. The Bank also distributed with fees for returned cheques, stopped cheques and late payments. When the second wave of the pandemic hit in 2021, Sampath Bank restructured some loans, offering customized deferment plans to help corporate customers ease out